alphbetagammizado is a secret code which points to the album of the same name by the brazilian musician Carlinhos Brown — a tour de force which will set your blood boiling and make you forget rock and roll –except for the Beatles. But enough of cultural notes — today the market displayed what technicians call a key reversal day. As shown it is a day where there is a lower low and a higher close than the previous day. This reinforces our analysis yesterday that the downwave had largely exhausted itself. (No guarantees.)
Once again we point out the alpha-beta-gamma (and zeta) pattern. This is analgous to the A-B-C pattern but it gives a reentry signal, or add on signal when prices power across the angled trend line. Buying before this is chancy and speculative.
A discussion of alpha-beta-gamma waves can be found here.